It is time to restructure US Federal Reserve after major flaws in the last twenty-five years
Kenneth Sparing
Mar. 21, 2009

US Federal Reserve and US Administrations are responsible for the current US depression and world recession. The Federal Reserve had unqualified people run it since 1980. The fiscal management was not only lousy; it did not make any sense. Volker, Greenspan and now Bernanke focused on theoretical measures. They never cared to understand the real dynamics of modern developed economies. Simply put they are an unqualified bunch that should be teaching in universities rather than running the world’s most vibrant economy.

It is time to restructure US Federal Reserve after major flaws in the last twenty-five years. For the same reason in 1907 when Federal Reserve was formed, it is time now to structure and give a birth to a new smart Federal Reserve.

The US lawmakers are slowly losing the confidence in Federal Reserve. Common people have lost faith completely. Proposal to put the Federal Reserve in charge of market oversight is losing congressional support after its main backer, Barney Frank, said criticism over American International Group Inc. “undercuts” his proposal.

“There’s still a need for a systemic-risk regulator,” Frank, a Massachusetts Democrat who chairs the House Financial Services Committee, said yesterday. “The argument for the Fed alone has lost a lot of political support. I think that’s now got to be re-looked at.”

Senate Banking Committee Chairman Christopher Dodd and Richard Shelby, the panel’s top Republican, said March 19 they are reluctant to expand the Fed’s role, faulting the central bank for lapses leading to the financial crisis.

It is time to restructure US Federal Reserve after major flaws in the last twenty-five years
Kenneth Sparing
The US lawmakers are slowly losing the confidence in Federal Reserve.
READ MORE>>

AIG bonuses will never get recovered because the court will find new tax law unconstitutional
Fred Day
AIG bonuses will never get recovered because the court will find a new tax law unconstitutional.
READ MORE>>

Long bond ten year note yield can surpass 8% from the current 3% - Gold price confirms
Tania Hirsh
Where can the long bond (ten year notes) go from here?
READ MORE>>

Swiss try to maintain status quo allowing tax cheaters to stay anonymous – some minor adjustments to cool down the heat
Fred Day
Hans Rudolf Merz, Switzerland’s finance minister, has stressed the core of the country’s bank secrecy laws...
READ MORE>>

US economy deep into depression – GDP loss in 2009 can be in excess of 10%
Priya Smeltor
No one ever could imagine how the Titanic would sink.
READ MORE>>

MORE ARTICLES >>